ASX A30th Janu

CORPORATE D

Wayne RicharExecutive Cha

Len Kolff Managing Direc

Matthew BowNon-Executive

Winton WillesJoint Company

ASX CODE: TAW

COMPANY HIG

New Iron oWest Afric

+95Mt fria>500Mt Gl

Experience

Mofe Creek Iro

High gradeand poten

20km to calignment

65 km prostrike drill

Premier Irstrike fromDSO mine

Rakana JV (6.

Meletse IroManganeseResources

CONTACT DET

Suite 25, 145 SNedlands WA 6 Email: Website: Phone: Facsimile:

NNOUNuary 2014

DIRECTORY

rds irman

ctor

les e Director

see /Aaron Finlay Secretary

W

GHLIGHTS

ore Discovery – Lca

able itabirite targobal Exploration

ed Board and Ma

on Ore Project,

e +40% Fe friabletial for +60% Fe

oast, adjacent t 65km to port

spective strike, l tested

ron Ore District; m +50 Mt historic

7%), South Afric

on Ore and Avone JV managed by

TAILS

Stirling Highway 6009

admin@tawwww.taw

+61 +61

CEMENT

ay

Liberia,

get within n target

anagement

Liberia

e itabirite DSO

o rail

only 3km

25km along c Bomi Hills

ca

ntuur y Aquila

wana.com.au wana.com.au 7 3510 2115 8 9287 4334

T

Mofe

Scopi

Corpo

QFo

Creek Iro

Gofolo Mfrom 0.8Kby an add

SignificanincludingFe from 1

Extensivezone def@ 57.5%

New diintersectexplorati

Only 8kmstrike dri

Follow-upa 63% to recovery combined

Exceptionachieved

Maiden rScoping S

ng Study

Tenova coordinatStudy

Coffey developmand minithe Study

Earth Sysof Liberistudies

orate

The ComAU$2.92mMofe Cre

Quarteor the per

n Ore Proj

Main strikeKm to 1.8Kditional 50

nt drillingg 62m @ 3816m

e high-gradfined at GoFe

iscovery tions repoion potent

m of a poilled to da

p metallur 68% Fe - with exd)

nal produd at 1.0mm

resource sStudy relea

Australia ting the p

Internatioment of thng methody

stems of Pia to lead

mpany sucm for resoeek Scoping

rly Actriod endin

Highl

ject

e continuitKm, whilst0m in the c

g intersec8.8% Fe fr

de (+50% Fofolo Main

at Gofoorted conial

otential tote

rgical testpremium qceptionally

uct grade m crush; sig

statement ase mid-20

awarded plant desig

onal (“Cohe maidendologies st

erth and Ad the envi

ccessfully ource drillg Study

tivities ng 31 Dece

lights

ty extendet mineraliscentral por

ctions repom surface

Fe up to 6 over >1km

lo Northnfirming a

otal 65km

work on Rquality proy low SiO2

from lowgnificant re

targeted 014

principal gn and log

offey”) ofn resource tudies – as

Africa in coironmenta

completeing and th

Reporember 201

ed by an sation widtrtion of th

ported ate, includin

60% Fe) “Dm strike in

-East (Nand enha

m interpret

RC samplesoduct at 52 and Al2O

w grade esource op

for early

role of gistics com

f Perth e program,s part of

onjunctional, social

ed a capihe develop

rt 13

additional th has incre prospect

t Gofolo ng 18m @

DSO – potencluding 12

E); signiancing re

ted prospe

s have ach58% to 68%O3 levels (

(36% Fe) pportunity

y Q2 2014

managingmponents o

to lead, mine pladeliverabl

with Eartand comm

tal raise pment of

125% reased t

Main 49.5%

ential” 2-26m

ficant gional

ective

hieved % mass (<3.0%

feed

4 and

g and of the

the anning es for

thCons munity

for the

ASX30th J

X ANNOUJanuary 20

Corpo

The Coraised the Comprogram

The PlInstitut

The Coand 05 to a sinvesto

The Copassed

A Stratunderta28 Janu

The CoExecutijust be

The ExIndaba

Mofe C

Drilling

A multsite anCompaextensiand ZaIndicat

A totalGofolo programthe Gof

Drill acquarteralong s

Subseqwas coconvertKoehnk

UNCEME014

orate, Str

ompany suare currenmpany’s Mms, workin

lacement tions, whic

ompany wa Decembesignificant ors.

ompany he.

tegic Plannaken in eauary.

ompany recive team a

een appoin

xecutive C conferenc

Creek Iro

g:

i-purpose nd commeny’s 100%ional RC rway durin

ted catego

l of 4,829m Main andmme on thfolo NE pro

ccess onto r and expstrike from

uent to thompleted ated back ko prospec

ENT

rategic a

ccessfully ntly being

Mofe Creekng capital

was stronch reflecte

as presentr 2013, to number

ld a Gene

ning Sessioarly Janua

cently recrand at theted.

Chairman ace in South

on Ore P

reverse cienced res

% owned Mresource dg the quarry.

m for 65 Rd Zaway chose prospospect for

the Zawayposed friab

m outcroppi

he quarterat Gofolo Mto RC an

ct to finalis

and Finan

complete used prim

k Iron Ore pand the in

ngly supped the qua

at the Mi promote tof very

ral Meetin

on and Riskry, and a

ruited the e time of p

and Managh Africa, du

Project

rculation source driMofe Creekrilling for rter to def

RC resourccompletingpects. Add a total of

y and Gofoble itabiriing high-gr

r, metallurMain for and will cose the plan

ncials

ed a capitamarily for project in

nitiation of

ported by lity of the

ines and Mthe Tawaninterested

g on 12 De

k Workshopsubsequen

full-time preparing t

ging Direcuring early

(RC) and dilling at k Iron Ore the Scopifine a JOR

ce drill hog the RC itionally,

f 492m in 9

olo North-ite minerarade, coar

rgical and a total of omplete thnned drill p

al raise fothe Maide Liberia, of a Scoping

both exi Company’

Money Conna Businessd London-

ecember 2

p for the Mnt follow-u

services ofthis report

ctor will by February

diamond cthe Gofo

e Project ing Study

RC complia

les were ccomponen

RC explora9 holes dur

East prospalisation arse grained

quality co781m in 1he resourcprogramm

or AU$2.92n Resourcn-going me

g Study for

sting and’s Mofe Cre

ference ins Plan. Thebased fun

2013 where

Mofe Creekup session

f an Execut, an “in-C

both be pry.

oring drill lo Main pduring thwas compnt resourc

completed nt of the ation drilliring the qu

pects was calong the d itabirite a

ontrol HQ d1 holes. Tce drillinge by the e

2m in Octoce drilling etallurgica

r the Proje

d new inveek Iron O

n London be Companynds and i

e all resolu

k Project w was held

utive AssistCountry” M

resent at

l rig was mprospect

he quarterpleted at Gce in the In

during th resource ing was couarter.

completedbulldozedat Zaway.

diamond cThe drill rig programend of Janu

ober. Fundprogram a

al test worct.

vestors anOre Project

between 0y presentenstitutiona

utions wer

was initiallon Tuesda

tant for thManager ha

the Minin

mobilised twithin th

r. Infill anGofolo Mainferred an

his phase a evaluatioompleted a

d during thd track an

core drillinig has bee

mme at thuary 2014.

2

ds at rk

nd t.

02

ed al

re

ly ay

he ad

ng

to he nd in nd

at on at

he nd

ng en he

ASX30th J

X ANNOUJanuary 20

Figure 1

‘Gofol

Subseqcompleare list

Table 1

Hole_ID

GMRC00

GMRC01

inc. GMR

GMRC01

GMRC01

GMRC01

GMRC02

Prospect

Gofolo M

Gofolo M

Gofolo M

Gofolo M

Gofolo M

Gofolo M

Gofolo M

Gofolo M

Gofolo M

Gofolo M

Gofolo M

Gofolo M

UNCEME014

| Multi-purp

lo Main’ D

uent to teted at thted below:

| Significant

Depth_

9

3

RC013

5

7

7

5

t Hole_

Main GMRC02

Main GMRC02

Main GMRC02

Main GMRC02

Main GMRC03

Main GMRC03

Main GMRC03

Main incl. GM

Main GMRC03

Main GMRC03

Main GMRC03

Main GMRC04

ENT

pose RC-diam

rilling Res

the quarte Gofolo M

t intersection

_From Depth

0

0

2

0

0

54

0

_ID From

26 0

28 0

28 12

29 0

30 0

31 0

32 0

RC032 16

34 0

35 0

39 0

40 0

mond drilling

sults

er, assay Main prosp

ns from RC r

_To Interval

18 18

46 46

20 18

26 26

34 34

74 20

50 50

To Interva

8

6

28

24

18

34

62

34

60

20

10

42

g recently co

results wpect. Sign

resource dril

Fe % SiO2 %

8 30.80 25.5

6 40.42 29.8

8 48.76 15.6

6 34.74 42.3

4 26.50 37.6

0 31.84 46.9

0 31.01 37.0

al (m) Fe S

8 37.01 3

6 28.07 2

16 28.59 3

24 26.87 2

18 36.09 2

34 40.20 3

62 38.79 3

18 49.50 1

60 28.17 4

20 27.66 2

10 30.24 2

42 27.86 4

ompleted at

were recenificant int

ling assay re

% Al2O3 % P 

51 17.82 0

86 5.36 0

69 4.42 0

32 4.58 0

61 13.69 0

99 2.05 0

03 10.41 0

SiO2 Al2O3

32.22 7.46 0

29.89 16.63 0

36.74 11.75 0

26.88 20.09 0

29.28 10.66 0

33.54 3.33 0

31.91 5.87 0

19.52 3.27

40.94 9.83 0

28.20 17.21 0

20.57 19.82 0

42.77 9.60 0

the Gofolo M

eived for tersections

esults over G

% S % Ti

0.043 0.106

0.047 0.050

0.070 0.083

0.016 0.027

0.032 0.068

0.052 0.057

0.023 0.036

P S T

0.034 0.013

0.024 0.137

0.037 0.076

0.026 0.117

0.023 0.054

0.039 0.033

0.075 0.041

0.15 0.01

0.048 0.088

0.031 0.145

0.022 0.132

0.034 0.066

Main prospec

RC resous previous

ofolo Main p

O2 % LOI 100

0.62 11.3

0.17 6.4

0.15 9.5

0.19 3.5

0.46 9.3

0.14 0.6

0.32 7.2

TiO2 LOI 100

0.39 5.8

0.51 11.2

0.43 8.1

0.66 12.4

0.36 7.0

0.12 4.9

0.22 6.2

0.12 6.8

0.38 4.9

0.57 13.9

0.57 14.1

0.34 5.6

ct

rce drillinly reporte

prospect

00

39

46

59

57

32

66

20

0

83

25

17

47

05

97

27

81

91

96

18

69

3

ng ed

ASX30th J

X ANNOUJanuary 20

Resultsconfirmextendminerathe prodrilled

Initial developGMRC0to near8m to high Fethis cou

Table 2

Figure 2zone in p

Prospec

Gofolo 

Gofolo 

Gofolo 

Gofolo 

Gofolo 

UNCEME014

s receivedmed the ped by an

alisation wospect. Go holes. All

review oping over

013, GMRC0r-surface f20m drill

e% grade, culd be the

| High-grade

2 | High-gradpink and bro

ct Ho

Main GMRC

Main GMRC

Main GMRC

Main GMRC

Main GMRC

ENT

from thepresence n addition

was increasood geolog RC drilling

f Gofolo a >1km st031, GMRCfriable irondepth intecoarse gra potential

e intersectio

de intersectoader minera

ole_ID Fr

C003

C006

C013

C031

C032

e extensioof extend

nal 1km sed by an ical conting intersect

Main resurike along C003, GMRn formationersectionsined miner start-up m

ons along >1k

ion drill holalised footpri

rom To In

0 20

12 26

2 20

4 12

16 34

on and infded mineto the eadditional

nuity was otions are li

ults show the south

RC032, GMRn intersect. Good coralisation mine for th

km strike and

e locations int in yellow

nterval (m)

20

14

18

8

18

fill drillingralisation ast, whilsl 50m withobserved bisted in the

w a ‘DSO hern flank RC006 movtions vary ntinuity ovand potenhe Mofe Cr

d 200m line

with interprw over digital

Fe SiO2

52.5 9.21

57.5 6.56

48.76 15.69

49.74 19.29

49.50 19.52

g at the Gat the p

st the suhin the cebetween the appendic

– potentiof the Gofving from wfrom 49.5%ver currential low-steek Projec

spacing at G

reted high-gl terrain mod

Al2O3 P

1 4.74 0.09

6 2.2 0.10

9 4.42 0.07

9 2.73 0.05

2 3.27 0.14

Gofolo Maiprospect. urface widentral-westhe originaces.

ial’ high-gfolo Main hwest to ea% Fe to 57nt 200m litripping ratct.

Gofolo Main p

rade DSO-podel image ba

S TiO

98 0.08 0

00 0.04 0

70 0.08 0

51 0.034 0

48 0.010 0

in prospecStrike wa

dth of tht portion ol and newl

grade zonhill in holeast. Surfac7.5% Fe ovene spacingtios sugges

prospect

otential gradackground

O2 LOI 100

0.18 9.6

0.05 9.1

0.15 9.5

0.08 7.6

0.12 6.8

4

ct as he of ly

ne es ce er g, st

de

0

66

14

59

61

81

ASX30th J

X ANNOUJanuary 20

Figure 3 grade DSand left

‘Gofolo

SubseqprogramGofolo recrystat Gofo

Table 3

Prospec

Gofolo 

Gofolo 

Gofolo 

UNCEME014

| Aerial vieSO-potential portion of v

o North-Ea

uent to thmme lead Main. Stallised friaolo Main.

| Significant

ct Ho

NE GNERC

NE GNERC

NE GNERC

ENT

w of Gofolo zone in pink

view and Gof

ast’ Result

he quartering to a nSignificantable itabir

t intersection

ole_ID Fr

C001

C006

C009

Main; one ok and broadefolo NE targe

ts

r, assay renew discovt drill inrite at Gofo

ns from RC e

rom To In

16 28

18 32

14 26

of the three der mineraliseets visible in

esults werevery at thntersectionolo NE wit

exploration d

nterval (m)

12

14

12

drilled resoued footprint back-right p

e received he Gofolo ns were th similar p

drilling at Go

Fe SiO2

34.15 35.99

34.02 37.02

32.75 44.14

urce targets; in yellow. Dportion of vie

for a 9 hoNE prospereported

potential lo

ofolo NE pros

Al2O3 P

9 7.02 0.12

2 7.78 0.06

4 4.78 0.02

looking norDrill pads visiew.

ole 492m ect along of simiow strippi

spect

S TiO

27 0.070 0

63 0.051 0

27 0.015 0

th-east. Highible in centr

exploratiostrike fromilar coarsng ratios a

O2 LOI 100

0.23 7.0

0.43 4.6

0.14 3.8

5

h-al

on m se as

0

00

60

83

ASX30th J

X ANNOUJanuary 20

Figure 4Additiondrill coll

ConfirmGofolo and prowithin potenti

All RC Liberiainserte1.5kg spuck pFloresc(TGA). Contro

Metallu

Previoudrilling(with iproduca massscreeni

UNCEME014

4 | Significannal Gofolo Nlars just visib

mation of NE enhanoject area the Mofe ial upside

samples aa and assayed every 50split by a ulveriser w

cent (XRF) The batcl (QC) proc

urgical Tes

us high-grag program n-situ heat with lows recoverying and sim

ENT

nt intersectiE targets hible in bottom

coarse-graces and cos. To date Creek Pro for ongoin

at Gofolo yed on 2m 0th sampleriffle split

with a 200) fusion ach passed cedures.

stwork

ade friableundertake

ad grades w contaminy of 27% tomple gravit

ons reportedghlighted in

m left

ained friabonfirms th

e only an 8oject tene

ng explorat

Main and intervals. e. All samtter and p0g split sennd Loss o internal a

e itabirite sen at the Granging fro

nant levelso 57% couty separati

d at Gofolo n red shading

ble itabirithe regional8km strike ement hastion. All in

Gofolo NE A field du

mples werepulverised nt for assaon Ignitionand exter

samples coGofolo Maiom 30% tos (i.e. siliculd be achion benefi

NE over Digg and not ye

e intersecl explorati length of s been drintersection

E were subuplicate, ce dried andto 85% pa

ay of majon (LOI) bynal Qualit

ollected frn prospecto 57% Fe),a, alumina

hieved witciation. (R

ital terrain Met drill teste

tions and on potenta total 60kll tested,

ns are liste

bmitted toertified stad crushed assing 75µmr and mino

y Thermo ty Assuran

rom the firt in Janua demonstr

a phosphorth minimalRefer ASX r

Model imageed; Gofolo M

the new dtial within km prospe providing

ed in the ap

o SGS Laboandard andto 75% pam throughor elemenGravimetr

nce (QA) a

rst RC recory/Februarated thatrous and sl crushing release 25

e backgroundMain prospec

discovery o the licensective strik significanppendices.

oratories id blank wa

assing 2mm a ring ants by X-Raric Analysand Qualit

onnaissancry last yeat a +60% Fulphur) an (3.35mm June 2013

6

d. ct

of se ke nt .

in as m, nd ay is ty

ce ar Fe nd ), 3)

ASX30th J

X ANNOUJanuary 20

Table 4 release o

SubseqIron Orprogramcomplepart ofrelease

The tefractiometalludefine up testa 1mm are sho

Compo

Comp 2

Comp 5

Table 5

A repreand thetest for

The HLcontinuincreasSiO2 an

Compos

Comp

Comp

UNCEME014

| Meterage aof 25th June

uent to thre Technicamme. Cometed at Gof the first e of 25th J

estwork wning and urgical tes the ‘minimtwork was crush (i.e

own in Tab

osite

2

5

| Composite

esentativee -1.0 +0.0r the amen

LS results uing to incsed to 3.6,nd <1.0% Al

site Hole_ID

GMRC0

GMRC0

GMRC0

KRC001

KRC002

KRC003

KRC004

KRC006

KRC012

KRC014

KRC015

p 2

p 5

ENT

and RC assaye 2013)

he quarteral Centre o

mposite 2 ofolo Main phase metune 2013)

was designheavy liq

stwork repmum’ amo designed te. no particble 5.

Fe%

50.4

36.5

e head grade

e portion o045mm franability to

indicated crease up , whilst thl2O3.

D Depth_F

001

003

006

1

2

3

4

6

2

4

5

ys for holes a

r, metallurof Perth, oand Comp

and Koehtallurgical .

ned to exuid separported in ount of worto assess wculate grin

4

s for Comp 2

of the crusaction was beneficiat

excellent to 63.2%

he levels o

From Depth_

22

12

8

22

6

2

4

8

4

10

22

and interval

rgical testwon two RC posite 5 a

hnko within testwork

xplore benration (HLSJune 2013rk requiredwhat potennding). In-s

Si

19

38

2 (Gofolo Ma

shed -1.0ms submittete by gravi

upgradaband 67.7%

of contami

_To Interva

36 14

26 14

30 22

28 6

36 30

10 8

24 20

24 16

34 30

12 2

38 16

s used to ge

work was drill compare represn ‘high-graprogramm

neficiationS) at a 13 was comd to generntial produsitu R/C he

iO2%

9.49

8.16

ain) and Com

mm matered for HLS ity process

ility for b% Fe respeinants dec

l Fe SiO2

4 41.30 34.4

4 49.88 18.6

2 54.90 11.5

6 29.59 47.1

0 36.71 39.1

8 42.45 29.3

0 35.35 34.6

6 40.41 36.6

0 43.09 28.7

2 36.07 37.3

6 28.76 48.6

nerate comp

conductedposites fromentative sade’ friabl

me reported

n options .0mm cru

mpleted atrate a +60%uct grades ead grades

mp 5 (Koehnk

rial was de at variouss.

oth compoectively, asreased to

2 Al2O3 P

41 1.91 0.

62 1.50 0.

50 1.84 0.

10 7.00 0.

13 5.08 0.

38 6.48 0.

63 9.38 0.

69 2.62 0.

74 5.64 0.

30 5.99 0.

60 6.40 0.

posites 2 and

d by ALS Mm the firstsamples frle itabirited in 2013.

by ‘assayush size. t a 3.35m% Fe produ could be as for both

Al2O3%

1.87

6.07

ko)

e-slimed as specific

osites withs the spec approxim

S TiO

.089 0.01 0.

.090 0.04 0.

.089 0.04 0.

.016 0.12 0.

.017 0.06 0.

.046 0.12 0.

.045 0.22 0.

.014 0.05 0.

.017 0.06 0.

.038 0.10 0.

.009 0.05 0.

d 5 (Refer AS

Metallurgy t phase drirom drilline that wer (Refer AS

y, by sizeFirst phasm crush tuct. Followachieved a composite

at 0.045mmgravities t

h Fe gradecific gravitately <2.0

O2 LOI 1000

033 3.3

043 7.2

045 8.2

050 2.5

045 2.6

034 3.4

039 4.5

024 1.9

042 2.9

030 4.3

052 3.4

7

SX

– ill ng re SX

e’ se to w-at es

m to

es ty 0%

0

32

28

23

57

61

48

52

98

92

35

42

ASX30th J

X ANNOUJanuary 20

Compo

Comp 2

Comp 5

Table 6

The sizto haveeven hand HL

HLS anproducrecoveFe head

Total pwhen rrecove68% (ocoarsensampledue to release

The reintensitobservaand shsample

UNCEME014

osite SG

2 +3

5 +3

| Mass recov

zing resultse high Fe gigher Fe g

LS results f

nd sizing t with lowry rate, frod grade, fr

plant feedretaining ries for thf the procness, fromes contain the destre of 25th J

esults confty processations at thould upgres.

ENT

G (µm)

.6

.6

very and pro

s indicatedgrades forgrades for or both co

results cow impuritom 1.0mmriable itab

d mass recmaterial d

he Mofe Crcessing pla

m diamond a higher puctive perune 2013)

firm the ps plant witthe Zawayrade/bene

Mass Recovery

67.6

57.5

duct grade o

d that the r Composit composite

omposites a

onfirmed tties can bm crushed mbirite from

coveries fodeemed toreek Projeant feed) d core or percentagercussion ef.

potential fth simple y prospect eficiate in

% Feed Recov

50.3

40.7

of the -1.0+0

coarser pate 2, whilse 5 at theare include

that a higbe producematerial. M the Gofolo

or Composo be ultra

ect will opdue to th

bulk same of ultrafffect of th

for the degravity be suggest sin a manne

Mass very %

Fe

63

67

0.045mm usi

articles att the mid-

e Koehnko ed in the a

gh-grade +ed at a +Material wo Main and

sites 2 andafines, i.etimally oc

he inferredples, i.e. fines, as che RC ham

esign and eneficiationimilar mater similar

e % Si

3.2 1.

7.7 2.

ng heavy liqu

the Gofol-sized part prospect.appendices

+62% Fe to+58% to 6

was derivedd Koehnko

d 5 were e. -45µm cur withind increase in-situ saompared wmer durin

developmen equipmeterial is prr to the

iO2 %

.9

.0

uid separatio

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ASX30th J

X ANNOUJanuary 20

Figure 5GMRC01

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Mineratypical relateditabirititabiritTestwothat arsupportthis.

UNCEME014

| Recent H3; western m

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ASX30th J

X ANNOUJanuary 20

Figure 6similar t

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UNCEME014

6 | Typical textures and

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work prograciate the mCreek prosparticle siogram is sg Study, in, and the

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ENT

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e diamondentre in Peam is desmedium aspects to izing and Fstructured ncluding a longer-ter

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ASX30th J

X ANNOUJanuary 20

Mining Mofe C

The coof Monmine aCreek p

Figure 7ship alon

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UNCEME014

Developmreek Proje

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ENT

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ASX30th J

X ANNOUJanuary 20

Figure 8 The Cocomponquarterfor Taw

The firthe comwas to for theScoping

Both Ccommo

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Earth includiextensimajor SystemBank stresourcground

UNCEME014

| Newly ins

ompany alsnents and r. The outwana’s 100

rst strategmpletion o Earth Syste completig Study.

Coffey andodity, with

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ENT

talled reclai

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ASX30th J

X ANNOUJanuary 20

Earth Sbased iof proj

Forwar

The MaJanuaryalso bediamonresourc The folthe ScoApproxthe dia The pesize torecoveStudy i Engineeplant edeliver Environquarter The ScoProjectproducprojectof thes

FurtherTranspoIndaba Liberia

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UNCEME014

Systems wiin Monroviects throu

rd Work P

aiden Resy 2014. M

een complend drillingce by April

llow-up meoping Stud

ximately 2,amond prog

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r meetingort and th Conferenc

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ENT

ll partner a. EarthCo

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communiys comme

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he Nationy of Lands in early F

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will be pres in South Aaging Directhe Chairmf Februaryent of the

anager.

cal multidisovided envding those

ram is forality contch quartern designed

k programmmed on rep HQ drill c

k programmc, high- gork and d April-end

will commviews and .

ty baselinncing on 0

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nal Port As, Mines aFebruary,

el for the ng of the Jategies bei

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me schedupresentativcore will b

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mence res barging st

e studies 05 February

y study, detal intensit) and; 2.10 Mtpa (o

ther define

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al program

consultancal and soci relevant t

be compldiamond ce resource ver a mai

uled for Feve full HQe sent to A

ptimise thproduct wint program

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will kick-oy.

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cy Group -al inputs tto the Mofe

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ASX30th J

X ANNOUJanuary 20

FurtherMinistryreceiptthe por

Work wthe for

The bathe com

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As of 3conseqR&D cla

About

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The proa globitabiritrepreseconfirmproducSubseq Footnote 2

of Sesa Go

UNCEME014

r engagemy of Transt of licensrt of Monro

will commerthcoming

arging and ming quart

ose-out of patriation o

1 Decembeuently preaims over

the Mofe

ofe Creek districts. DSO @ 655km from ain resourc

oject is che potentia with high al.

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oject hostbal explote/amphiboentative samed the pt with louent meta

2: the railway aoa and Vedanta;

ENT

ment with sport) willes for theovia.

ence on thmonths. T

transhipmter.

“legacy” of funds he

er 2013, Tepare and the forthc

Creek Iron

Project i The proje5% Fe), 80 the Manoce (>100Mt

haracteriseal to deliv mass reco

xceptionalload truckinr water foucture soluled road firon ore raeast from

ts a 95Mt horation taolite. Initamples frootential to

ow contamallurgical

alignment falls ; India’s largest

the newlyl be progre road tran

he develophe PFS dri

ment Study

diamond eld in Sout

Tawana hadexecute th

coming qua

n Ore Proj

s located ect is 10km0km along o River mt @ 45% Fe

ed by exceer a high-

overies, an

ly well locng or convor on shiputions exisfrom the ailway aligthe easter

high-grade arget of tial metalom the mao beneficiminants a testing ha

under the Westt producer and e

y establishessed, to nsport of 1

pment of alling progr

y work ha

assets is bth Africia i

d completehe relevanarter.

ject

within onm along str strike from

mine (100Me).

eptionally -grade prod potentia

cated beingveyor of prpment or st; road orcentral lignment2 frnmost ma

+45% Fe f>500Mt

llurgical taiden 2,50iate throuand 44-57%as confirm

tern Cluster proexporter of iron

hed Road Tassist wit

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a Pre-Feasiram could

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ed its 2013nt annual r

ne of Liberike from tm the histMt @ 52%

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g approximroduct to tbarging tor rail to thcence arerom the Bgnetic ano

friable itabof friab

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med that cr

oject currently n ore in the priv

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of Mofe Cr

ibility Studcommence

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ressed by y being co

3 Fiscal repreports, au

ria’s histothe abandotoric Bong Fe) and

ained, high%Fe – 68%Fine strippin

mately 20kthe coast ao the porte deep wa

ea or a 65Bomi Hills omaly.

birite explle itabiricomplete

rse circulang to only recovery wrushing the

managed by Wvate sector

Committeplication areek final

dy drilling e as early

will be fin

the compoordinated

porting yeudits, tax

oric premioned Bom Mine (>2720km fro

h-grade itaFe) at a cong ratios a

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loration taite and ed in midtion drill

y 3.35mm, within thee same m

Western Cluster

1

ee (Liberiand forecasproduct, t

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nalised ove

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ary

ASX30th J

X ANNOUJanuary 20

1.0mmmass re

Proximpotenti

Figure 9

Figure 1drilling ccorner.

UNCEME014

size fractecovery, a

ity to the ial for an e

| Project lo

0 | License completed t

ENT

tion genert a 3.6 SG

coast andearly start

ocation relat

area showinto date in b

rates a 63.

d positive -up, low c

ive to possib

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% Fe to 6

initial mecapital inte

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raphy, accessust visible on

1

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uggests thting costs.

es

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ASX30th J

X ANNOUJanuary 20

About

TawanaJSE-listowned historiccapital

Tawanadeveloptenememinera+60% Fe

The Cocommeconsidemillion5-10 Mwith Kohas 100

About

Liberiacode athe vaSirleaf Novemexplorahistoricore pro

LennarManagiTawanaTel: +6Mob: +6 DetaileCompa CompetenThe informcompiled promulgatexperienceundertakinResults, Mbased on h

Forward LStatementrelating todevelopmeThere can mineralisaeither in a

UNCEME014

Tawana (A

a Resourceted Compa Mofe Creec iron ore city and m

a is compment of ents in Graalisation we, for whic

ompany is cenced its er both an tonnes pe

Mtpa of iroonblo Bum0% of the i

Liberia

a is a demand a govelue of its was Africber 2011 ation and cally been oducer glob

rd Kolff vang Directoa Resource

61 7 3510 261 424 942

ed informany’s websi

nt Persons Statemation in this by Lennard Koed by the ASX fe which is relevng to qualify as

Mineral Resourcehis information

Looking Statemts regarding plao the Preliminarent of its miner also be no assu

ation will prove accordance with

ENT

ASX & JSE

es NL (“Taany with iek Project district, major port

mmitted tothe Mofe

and Cape which can bch there is

currently cScoping S

n early starer annum (on ore promi Inc for tron ore mi

mocratic Wernment ps potentiaca’s first e

for a secproduction the largesbally durin

an Oosterwor es NL 2115 2 589

ation on ite www.ta

ement report that relolff van Oosterfrom time to timvant to the styl a Competent Pes and Ore Rese in the form and

ment ns with respectry Assessment aral properties wurance that the to be economich the Preliminar

: TAW)

awana” orts principa

t (“the Prolocated 20t, Monrovia

o becomi Creek ProMount Coube easily us consisten

completingStudy on trt-up, low (Mtpa), as oduct. Addthe adjoinineral righ

West Africaroactively l mineral

elected femond term.n, hosting st exporteng the 1960

wijk

all aspecawana.com

lates to Explorrwijk, who is me. Lennard Koe of mineralisa

Person as defineerves’. Lennardd context in wh

t to the Companare forward lookwill proceed as c

Company will bc or that a minery Assessment o

r “the Comal projectoject”) is a0km from a.

ng a midoject, whiunty. The upgraded tnt global de

g its maidethe Mofe

w capital co well as a ditionally, ning tenemts.

an country engaged wealth. Hmale head. The cou several w

er of iron o0’s to 1980

cts of Tawm.au.

ration Results, a Member of

olff van Oosterwation and type oed in the 2012 d Kolff van Oosthich it appears.

ny’s mineral proking statementscurrently expecbe able to confie will successfuor otherwise.

mpany”) is in Liberiaa new disc the coast

d-tier ironich coversProject hoto a superemand.

en resourcCreek Pro

ost projeclonger-ter Tawana h

ment cover

y with a mwith the mHer Exceld of state untry is huworld-classore in Afric0’s.

wana’s pr

Mineral Resourthe Australian

wijk is a full-timof deposit undeEdition of the ‘terwijk consent

operties, includs. There can be

cted, nor in accoirm the presenclly be develope

s an iron a, West Afcovery in t and 80km

n ore pros 285km2 oosts high-grior quality

e drilling poject. Thet with a pm project has a jointring 624km

modern andmining indlency Presin 2005 a

ugely pross iron ore ca and wa

rojects ca

rces or Ore Re Institute of G

me employee ofer consideration‘Australasian Cots to the inclusi

ding statements no assurance tordance with thce of a mineral ed on any of the

ore focusefrica. Tawthe heart m from th

roducer thof highly grade friaby iron ore

program ae Scoping

production capable ot venture

m2, for wh

d transpardustry to hsident Elle

and was respective fo deposits. as the 5th

an be fou

eserves is basedGeoscientists inf the company an and to the acode for Reportiion in the repo

s, assumptions athat the Compahe Preliminary A deposit, that ae Company’s mi

1

ed ASX anwana’s 100of Liberiae country

hrough thprospectivble itabirit product o

nd recentl Study wi rate of 1-

of producin agreemenich Tawan

rent mininhelp unlocen Johnsoe-elected ior mineraLiberia halargest iro

und on th

d on informationcluded in a liand has sufficietivity which he ng of Exploratiort of the matte

and targets ny’s plans for Assessment. any ineral propertie

6

nd 0% ’s ’s

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ASX30th J

X ANNOUJanuary 20

APPENpreviouRC reso

Hole_ID

GMRC0

GMRC0

GMRC0

GMRC0

GMRC0

inc. GM

GMRC0

GMRC0

inc. GM

GMRC0

inc. GM

GMRC0

GMRC0

GMRC0

GMRC0

GMRC0

GMRC0

Prospect

Gofolo Mai

Gofolo Mai

Gofolo Mai

Gofolo Mai

Gofolo Mai

Gofolo Mai

Gofolo Mai

Gofolo Mai

Gofolo Mai

Gofolo Mai

Gofolo Mai

Gofolo Mai

Gofolo Mai

Gofolo Mai

Gofolo Mai

Gofolo Mai

Gofolo Mai

Gofolo Mai

Gofolo Mai

Gofolo Mai

Gofolo Mai

Gofolo Mai

Gofolo Mai

Gofolo Mai

Gofolo Mai

Gofolo Mai

Gofolo Mai

Gofolo Mai

Gofolo Mai

Gofolo NE

Gofolo NE

Gofolo NE

Gofolo NE

Gofolo NE

Gofolo NE

Gofolo NE

Gofolo NE

Gofolo NE

Gofolo NE

UNCEME014

DIX 1: Alus reporteource drilli

D De

009

010

011

012

013

MRC013

015

016

MRC016

017

MRC017

017

020

021

022

024

025

Hole_ID

n GMRC026

n GMRC026

n GMRC027

n GMRC028

n GMRC028

n GMRC028

n GMRC029

n GMRC029

n GMRC030

n GMRC031

n GMRC031

n GMRC031

n GMRC032

n inc. GMRC032

n GMRC032

n GMRC033

n GMRC033

n GMRC034

n GMRC035

n GMRC036

n GMRC037

n GMRC037

n GMRC039

n GMRC039

n GMRC040

n GMRC041

n GMRC041

n GMRC041

n GMRC041

GNERC001

GNERC002

GNERC003

GNERC003

GNERC003

GNERC004

GNERC006

GNERC007

GNERC007

GNERC009

ENT

l intersectd drilling ing to date

pth_From

0

0

0

0

0

2

0

0

0

0

0

54

0

0

0

0

0

From To

0

14

36

0

12

56

0

46

0

0

62

86

0

16

76

12

80

0

0

0

30

66

0

52

0

0

42

60

86

16

52

32

48

66

22

18

42

60

14

tions fromintersectioe.

Depth_To

18

16

24

18

46

20

26

40

28

34

18

74

26

18

20

18

50

o Interval (m)

8 8

32 18

60 24

6 6

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88 32

24 24

60 14

18 18

34 34

74 12

104 18

62 62

34 18

96 20

44 32

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60 60

20 20

4 4

42 12

90 24

10 10

77 25

42 42

32 32

50 8

76 16

90 4

28 12

56 4

42 10

54 6

74 8

38 16

32 14

48 6

66 6

26 12

m Gofolo Mons), Gofo

Interval Fe

18 30

16 25

24 27

18 28

46 40

18 48

26 34

40 25

28 26

34 26

18 30

20 3

26 26

18 26

20 26

18 29

50 3

) Fe SiO

8 37.01 3

8 21.64 3

4 34.85 2

6 28.07 2

6 28.59 3

2 30.23 4

4 26.87 2

4 31.98 4

8 36.09 2

4 40.20 3

2 23.38 4

8 30.70 4

2 38.79 3

8 49.50 1

0 24.68 4

2 29.22 3

4 29.57 4

0 28.17 4

0 27.66 2

4 37.83 2

2 19.99 4

4 19.85 5

0 30.24 2

5 33.85 4

2 27.86 4

2 24.19 3

8 24.13 4

6 29.10 4

4 40.44 3

2 34.15 3

4 35.87 4

0 29.97 4

6 21.39 5

8 31.74 4

6 23.75 4

4 34.02 3

6 34.26 4

6 25.81 5

2 32.75 4

Main RC rolo NE RC

e SiO2

0.80 25.51

5.96 30.96

7.29 29.03

8.64 28.00

0.42 29.86

8.76 15.69

4.74 42.32

5.40 42.81

6.93 42.33

6.50 37.61

0.24 29.10

1.84 46.99

6.74 38.57

6.36 33.88

6.21 33.31

9.17 30.53

1.01 37.03

O2 Al2O3

32.22 7.46

37.77 17.93

29.01 8.10

29.89 16.63

36.74 11.75

48.61 3.92

26.88 20.09

46.23 2.28

29.28 10.66

33.54 3.33

47.46 10.93

46.78 3.97

31.91 5.87

19.52 3.27

46.09 10.31

37.11 8.80

46.10 3.09

40.94 9.83

28.20 17.21

23.74 10.58

49.31 12.25

52.24 10.03

20.57 19.82

45.42 1.56

42.77 9.60

30.67 19.55

46.18 10.53

49.20 3.26

37.70 1.21

35.99 7.02

45.90 1.43

44.73 6.06

54.28 7.55

47.56 3.59

48.11 9.11

37.02 7.78

40.71 3.56

51.86 9.12

44.14 4.78

resource dexploratio

Al2O3 P

17.82 0.0

18.29 0.0

17.92 0.0

17.96 0.0

5.36 0.0

4.42 0.0

4.58 0.0

11.54 0.0

10.68 0.0

13.69 0.0

15.37 0.0

2.05 0.0

13.40 0.0

16.38 0.0

17.13 0.0

15.59 0.0

10.41 0.0

P S

0.034 0.0

0.032 0.0

0.030 0.0

0.024 0.1

0.037 0.0

0.043 0.0

0.026 0.1

0.038 0.0

0.023 0.0

0.039 0.0

0.055 0.0

0.040 0.0

0.075 0.0

0.15 0.

0.039 0.1

0.031 0.0

0.050 0.0

0.048 0.0

0.031 0.1

0.064 0.0

0.046 0.1

0.034 0.1

0.022 0.1

0.051 0.0

0.034 0.0

0.026 0.1

0.036 0.1

0.044 0.0

0.077 0.0

0.127 0.0

0.033 0.0

0.017 0.0

0.024 0.1

0.042 0.0

0.038 0.1

0.063 0.0

0.138 0.0

0.025 0.1

0.027 0.0

drilling (noon drilling

S TiO

043 0.11 0.

039 0.12 0.

029 0.11 0.

045 0.08 0.

047 0.05 0.

070 0.08 0.

016 0.03 0.

022 0.07 0.

017 0.07 0.

032 0.07 0.

016 0.07 0.

052 0.06 0.

046 0.07 0.

027 0.10 0.

033 0.07 0.

026 0.08 0.

023 0.04 0.

TiO2 LO

013 0.39

090 0.58

061 0.30

137 0.51

076 0.43

066 0.16 BD

117 0.66

042 0.09

054 0.36

033 0.12

075 0.37 BD

066 0.11 BD

041 0.22

01 0.12

169 0.37 BD

060 0.24

079 0.11

088 0.38

145 0.57

078 0.37

121 0.54 BD

169 0.49 BD

132 0.57

073 0.10 BD

066 0.34

143 0.57

168 0.40 BD

028 0.19 BD

003 0.21 BD

070 0.23

059 0.06 BD

027 0.18

111 0.19

060 0.19 BD

150 0.29

051 0.43

091 0.28

126 0.21

015 0.14

1

on-inclusiv and Zawa

O2 LOI 1000

62 11.3

60 12.0

69 11.8

63 10.2

17 6.4

15 9.5

19 3.5

51 7.4

43 7.6

46 9.3

56 11.0

14 0.6

51 8.6

54 10.9

70 11.1

64 10.6

32 7.2

OI 1000 Commen

5.83

10.79

8.26

11.25

8.17

12.47

1.03 EOH

7.05

4.97

EOH

6.27

6.81

EOH

9.58

1.71 EOH

4.91

13.96

11.31

EOH

14.18

EOH

5.69

13.74

EOH

7.00

4.97

1.50

4.69

4.60

1.22

EOH

3.83

7

ve ay

0

9

5

5

6

46

9

7

49

6

2

8

6

8

3

1

4

0

nts

ASX30th J

X ANNOUJanuary 20

Hole lo

DataSet P

Mofe Creek Go

Mofe Creek Go

Mofe Creek Go

Mofe Creek Go

Mofe Creek Go

Mofe Creek Go

Mofe Creek Go

Mofe Creek Go

Mofe Creek Go

Mofe Creek Go

Mofe Creek Go

Mofe Creek Go

Mofe Creek Go

Mofe Creek Go

Mofe Creek Go

Mofe Creek Go

Mofe Creek Go

DataSetMofe Creek GMofe Creek GMofe Creek GMofe Creek GMofe Creek GMofe Creek GMofe Creek GMofe Creek GMofe Creek GMofe Creek GMofe Creek GMofe Creek GMofe Creek GMofe Creek GMofe Creek GMofe Creek GMofe CreekMofe CreekMofe CreekMofe CreekMofe CreekMofe CreekMofe CreekMofe CreekMofe Creek

UNCEME014

ocation dat

Prospect Hole_ID H

ofolo Main GMRC009 RC

ofolo Main GMRC010 RC

ofolo Main GMRC011 RC

ofolo Main GMRC012 RC

ofolo Main GMRC013 RC

ofolo Main GMRC014 RC

ofolo Main GMRC015 RC

ofolo Main GMRC016 RC

ofolo Main GMRC017 RC

ofolo Main GMRC018 RC

ofolo Main GMRC019 RC

ofolo Main GMRC020 RC

ofolo Main GMRC021 RC

ofolo Main GMRC022 RC

ofolo Main GMRC023 RC

ofolo Main GMRC024 RC

ofolo Main GMRC025 RC

Prospect Hole_Gofolo Main GMRCGofolo Main GMRCGofolo Main GMRCGofolo Main GMRCGofolo Main GMRCGofolo Main GMRCGofolo Main GMRCGofolo Main GMRCGofolo Main GMRCGofolo Main GMRCGofolo Main GMRCGofolo Main GMRCGofolo Main GMRCGofolo Main GMRCGofolo Main GMRCGofolo Main GMRCGofolo NE GNERCGofolo NE GNERCGofolo NE GNERCGofolo NE GNERCGofolo NE GNERCGofolo NE GNERCGofolo NE GNERCGofolo NE GNERCGofolo NE GNERC

ENT

ta:

Hole_type UtmE_29N U

C 253038

C 253052

C 253075

C 253104

C 252632

C 252646

C 253422

C 253801

C 253790

C 253787

C 253814

C 254097

C 254111

C 254270

C 254251

C 253998

C 253607

_ID Hole_type UtC026 RCC027 RCC028 RCC029 RCC030 RCC031 RCC032 RCC033 RCC034 RCC035 RCC036 RCC037 RCC038 RCC039 RCC040 RCC041 RCC001 RCC002 RCC003 RCC004 RCC005 RCC006 RCC007 RCC008 RCC009 RC

UtmN_29N Reg_RL Plan

761486 66

761537 63

761593 62

761644 65

761628 48

761700 33

761315 60

761146 39

761072 46

761015 23

761199 32

761229 36

761178 48

761344 35

761410 21

761150 43

761180 43

tmE_29N UtmN_29253618 761236253588 761125252846 761560252850 761599252859 761680252818 761493253224 761318253205 761263253238 761385253252 761432252888 761737254018 761091253979 761212253600 761185253418 761312252844 761600256464 761784256495 761749256766 762041256787 762004256820 761963257080 762211257110 762171257054 762258257056 762334

n_dip Plan_Azim Hole_

-50 24

-50 24

-50 24

-50 24

-50 24

-50 24

-50 24

-50 24

-50 24

-50 24

-50 24

-50 340

-50 340

-50 340

-50 340

-50 340

-50 24

9N Reg_RL Plan_d59 -5036 -5062 -5051 -5044 -5054 -5049 -5041 -5055 -5059 -5026 -5039 -5037 -5048 -9055 -9058 -9056 -5047 -5050 -5044 -5044 -5039 -5033 -5031 -5034 -50

_depth(m) Log_Compan

70 Tawana

72 Tawana

60 Tawana

60 Tawana

60 Tawana

42 Tawana

48 Tawana

54 Tawana

78 Tawana

60 Tawana

48 Tawana

54 Tawana

60 Tawana

60 Tawana

54 Tawana

72 Tawana

66 Tawana

dip Plan_Azim Ho24242424242424242424242424242424327327327327327327327327327

ny Hole_Diameter Ho

5.25 27/

5.25 27/

5.25 28/

5.25 28/

5.25 29/

5.25 29/

5.25 29/

5.25 30/

5.25 30/

5.25 30/

5.25 1/

5.25 1/

5.25 1/

5.25 2/

5.25 2/

5.25 2/

5.25 2/

ole_depth(m) Hole_60 3/10/72 3/10/90 4/10/60 4/10/54 5/10/

106 5/10/96 8/10/96 8/10/72 9/10/72 9/10/66 9/10/90 10/1066 10/1077 10/1072 15/1090 15/1048 16/1066 16/1078 17/1042 17/1036 17/1054 17/1066 17/1054 18/1048 18/10

ole_Start Hole_Finish

/09/2013 27/09/2013

/09/2013 28/09/2013

/09/2013 28/09/2013

/09/2013 29/09/2013

/09/2013 29/09/2013

/09/2013 29/09/2013

/09/2013 30/09/2013

/09/2013 30/09/2013

/09/2013 30/09/2013

/09/2013 1/10/2013

/10/2013 1/10/2013

/10/2013 1/10/2013

/10/2013 1/10/2013

/10/2013 2/10/2013

/10/2013 2/10/2013

/10/2013 2/10/2013

/10/2013 2/10/2013

_Start Hole_Finish/2013 3/10/2013/2013 4/10/2013/2013 4/10/2013/2013 4/10/2013/2013 5/10/2013/2013 6/10/2013/2013 8/10/2013/2013 9/10/2013/2013 9/10/2013/2013 9/10/2013/2013 9/10/2013

0/2013 10/10/20130/2013 10/10/20130/2013 11/10/20130/2013 15/10/20130/2013 16/10/20130/2013 16/10/20130/2013 16/10/20130/2013 17/10/20130/2013 17/10/20130/2013 17/10/20130/2013 17/10/20130/2013 17/10/20130/2013 18/10/20130/2013 18/10/2013

1

Drill_Prog

Phase I-Resources

Phase I-Resources

Phase I-Resources

Phase I-Resources

Phase I-Resources

Phase I-Resources

Phase I-Resources

Phase I-Resources

Phase I-Resources

Phase I-Resources

Phase I-Resources

Phase I-Resources

Phase I-Resources

Phase I-Resources

Phase I-Resources

Phase I-Resources

Phase I-Resources

h Drill_ProgPhase I-ResourcePhase I-ResourcePhase I-ResourcePhase I-ResourcePhase I-ResourcePhase I-ResourcePhase I-ResourcePhase I-ResourcePhase I-ResourcePhase I-ResourcePhase I-ResourcePhase I-ResourcePhase I-ResourcePhase I-ResourcePhase I-ResourcePhase I-Resource

Recon RCRecon RCRecon RCRecon RCRecon RCRecon RCRecon RCRecon RCRecon RC

8

eseseseseseseseseseseseseseseses

ASX30th J

X ANNOUJanuary 20

APPEN

Testwo

UNCEME014

DIX 2: Pro

ork flowshe

ENT

ocess flows

eet design

sheet and s

summary mmetallurgic

cal testwoork results

19

ASX30th J

X ANNOUJanuary 20

Assay b

UNCEME014

by size on t

ENT

the crusheed 3.35mmm materialss

2

20

ASX30th J

X ANNOUJanuary 20

Assay b

Heavy

UNCEME014

by size on c

liquid sepa

ENT

crushed -1

aration on

.0mm mat

-1.0 +0.04

terials

45mm

2

21

ASX30th J

X ANNOUJanuary 20

APPENResults DrillingSamplinTechniq

Drill SaRecove

Logging

Sub-samtechniqsample

Qualityand labtests

UNCEME014

DIX 3: JOs

g and ng ques

ample ery

g

mpling ques and e preparati

y of Assay boratory

ENT

ORC Table;

ion

; Sampling

All drilldrilling w2-3kg foAll sampto 2m inMoisturerecordedData useNo samencountimpact oLower R10 to 1holes ppotentiaAll drilmineralion a 1m All RC chAssayinglaborato2-3kg sadried an1.5kg rifto 85% pAll ass/lithiummajor e(TGA) foBlind staevery 50AcceptaestablishSGS labpreparatEvery 50mm and Crusher at the st% dust loSGS labo1 Reagen1 Prepar1 Weighe1 Prepar1 SRM’s

g techniqu

ling was with samp

or dispatchpling condntervals fore content d at time oed to verifymple rectered durinon the qua

RC drill chi5m from lanned at

al sample bl chips lisation. A basis retahips are phg and samory in Monramples as rnd crushed ffle split ispassing 75µsaying co

m tetraboraelements or loss on iandards, b0th sampleble accuhed for all

boratory cotion; 0th sampl 75 um and pulvetart of eveoss determoratory connt Blank inration Blaned replicaration Dup in 40

ues and da

conductepling cond to the assucted on ar assay and recov

of sample y recoveriecovery ong the curality of datp recoverysurface a

t each prbias logged on representained on sihotographe

mple preparovia received f to 75% pas then pulvµm and 200nducted ate mixturand Thergnition blanks ande by Tawauracy and samples ronducts in

le screene

erisers cleery batch mined oncenducts QA/n 40 nk (prep prte in 40 licate (res

ata – Repo

d by revucted by rsay laborata 1m basis

vered samrecovery oes and samr qualityrent drill pta derived y was recond twinnerospect to

n site fotative samte. ed for digiaration co

rom Tawassing 2mmverised by0g recoverby Lithiu

re digest armo Gravi

d field duna Resourd precisioreported nternal QA

ed to conf

aned with

e per week/QC on sam

rocess blan

split) in 40

orting of

verse circriffle splittory s and com

mple weighon a 1m bample quality issues program li ognised in ted diamono check f

or lithologmple of the

tal storageonducted

na Resourm y ring & pured for anaum meta

and XRF finimetric A

plicates inrces in theon have

A/QC on

firm % pa

h barren m

k. mple analy

nk) in 40

2

Exploratio

culation tting to

posited

ht were asis ty

were kely to

the top nd core for any

gy and e chips

e at SGS

ces are

uck mill alysis aborate nish for

Analyser

nserted e field. been

sample

ssing 2

material

ysis;

22

on

ASX30th J

X ANNOUJanuary 20

VerificasamplinassayinLocatiopoints

Data SpDistribu

Orientain relatgeologi

Sample

Audits

Mineraand lanstatus

Exploraother pGeolog

Data Co

Relatio

UNCEME014

ation of ng and ng on of Data

pacing andution

ation of dation to ical structu

e Security

or Review

l tenemennd tenure

ation doneparties gy

ompositing

onship

ENT

d

ata

ure

s

t

e by

g

All sambefore d

Collar scompletand holReflex gDrill resuDrilling nominal Zaway Drilling exploratDrilling at GofolDrilling UTM at ZDrilling UTM at GThe oriemain strAll samcompounhandoveField duResourcethe currAll drillexploratTawana exploratNo othelicense Mineralizsteeply BIF to itintermixhanging/itabiritebanded surface iron gradenrichmvertical associate

Data comaximumDrilling

mpling datadata entry

urveys cotion. Downe bottom

gyroscopic ults reportconducte

grid for r

conductedtion drillinhas been

lo Main andhas been Zaway has been Gofolo NE entations aructural tremples are nd at Taw

er to the inuplicates aes technicrent sampliing has btion license Resourcestion licenseer parties

zation is dipping irotabirite anxed itab/footwall

e is meditexture ato an averdes are incent blank depth aed with pr

ompositedm of 4m ohas been

a is reco on site.

nducted bn hole su and at 5 tool ted in UTMd on 400resource d

d on a nog at Gofoloconductedd Koehnkoconducted

conducted are essentends at the stored wana Resondependenare reviewcal staff aing practic

been conde MEL-120s is 100% e. have cond

associaton format

nd recrystabirite a

basemeum to cond is friabrage depthcreased whet from snd locallyrimary mag

using wf consecut planned t

rded in h

by DGPS srveys cond5m interva

M 29N x 60m

drilling at

ominal 400o NE d inclined d inclined

d inclined

tially perpe prospectin a sec

ources Camnt laboratoed periodind confirmce ucted on 29. holder of

ducted ex

ed with ion; likelyallised witand amnt granioarse graible where h of 25-45mhere weaturface to y higher gnetite acc

weighted tive internato intersec

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urvey afteducted atals downh

and 200 Gofolo Ma

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50o towar

50o towar

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pendicular ts. cure and mp facilit

ory in Monrically by Tm the vali

the Mofe

the Mofe

xploration

moderatey metamorthin a packmphibolite ite-gneiss.ined with weatherem vertical.thered to f average 2iron gradcumulation

average al dilutionct minera

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er hole t collar hole by

x 60m ain and

grid for

rds 024

rds 007

rds 327

to the

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e Creek

e Creek

on the

ely to rphosed kage of

and The relict

ed from In-situ

form an 25-45m es are ns.

and a n lisation

23

ASX30th J

X ANNOUJanuary 20

betweeminerawidths interce

Balance

Other sexplora

Further

Append TenemMEL-12

MEL-11

NC30/5

MTR371

NC30/5

PL61/2

UNCEME014

en alisation and ept lengths

ed reportin

substantiveation data

r Work

dix 4: Lice

ment 2029

025

5/1/2/2/0

1/2007PR

5/1/1/088

2007

ENT

s

ng

e

enses, loca

81MR

PR

perpendthicknesformatioIntersecwith thethan verAll drillappendicFor initirelease odrilling NovembFurther metallurQA/QC

ation and o

LocatioLiberia

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South A

South A

Botswa

dicular to sss of theon tions throe weatherrtical deptl intersecces for recal exploraof 12th Marintersectier 2013 work wilrgical test

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Structu100% throughLiberiaJoint vLiberiacompasecure Mining Blue RBRD) usale of 100% Tand itsFalls 100% Tand itsFalls 100% Swholly Tawana

s possible ts hosting

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included eviewed reted, refer uent Goforelease o

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h its 10an subsidiaventure w

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